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Name | Symbol | Market | Type |
---|---|---|---|
Wt Agricultu Ld | LSE:FAGR | London | Exchange Traded Fund |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.0275 | 0.24% | 11.38 | 11.26 | 11.50 | 0 | 16:35:22 |
Regulated information | Consolidated results for the first half of 2017
Nazareth (Belgium) / Rotterdam (The Netherlands), 4 August 2017
Higher turnover and profit for Fagron
Significant decrease of net debt/REBITDA-ratio
Highlights:
Financial
Strategic - operational
Hans Stols, CEO of Fagron: "Fagron can look back on a strong first half of 2017. Our core businesses in Europe, South America and North America achieved good growth in both turnover and profit. The sterile compounding operations in the United States achieved turnover growth of more than 22%, a clear acceleration compared to previous half-years. The costs of the company were well controlled resulting in a profitability that increased faster than turnover.
We also made important operational progress in the past six months. We launched many innovative products and concepts on the market to meet the growing demand for individualised patient care. In South America and in Europe, this included the introduction of TrichoConcept® (a patented total solution for alopecia), Pigmerise® MD (a treatment for vitiligo) and FagronLab® (advanced equipment for pharmaceutical compounding), while in the United States we brought our Lets Gel Kit® (an anaesthetic gel) to the market. We are also pleased with the opening of a new compounding facility in Hoogeveen (the Netherlands) during the first half of 2017. This new facility is an important element of the strategy of strengthening our position in hospitals. In addition, we completed the acquisition of Kemig, a leading supplier of pharmaceutical raw materials and packaging materials to pharmacies and wholesalers in Croatia and Bosnia and Herzegovina, early August 2017.
After refinancing the company last year, we focused on further decreasing our leverage in the first half, as a result of which we are operating comfortably within the covenants for our loans, and have created a solid financial position. We subsequently repaid our bond loan of € 225 million just after the close of the first half-year."
Please open the link below for the press release
Higher turnover and profit for Fagron
Please open the link below for the interim financial statements:
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